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Financial Literacy

Financial Spring Cleaning: Tips For Tidying Up Your Finances

For many Americans, the onset of spring and fresh air outside means spring cleaning inside. It’s time to swap winter clothes for spring/summer ones and to get rid of the dust and clutter that’s built up over the cold months. Spring also is a great time to put your finances in order and save money in the process.The National Foundation for Credit Counseling (NFCC) suggests the following tips for tidying …Read More

Why the Future of Financial Health Matters to the NFCC Staff

Each year the Center for Financial Services Innovation promotes a Financial Health Matters Day in an effort to raise awareness and dialog with consumers about the importance of financial education. According to CFSI’s Financial Health Pulse, only 28% of Americans are financially healthy. As a CFSI network member, the NFCC has joined in the efforts to raise awareness and work towards a future where all Americans are financially healthy.   …Read More

When is the Right Time to Get Your First Credit Card?

Is there an ideal age for someone to get  his or her first credit card?  Learning how to properly manage and pay off debt can be important lessons for the long haul. But a credit card in the hands of someone who has yet to learn personal financial responsibility can result in long-lasting consequences.   According to CNBC, the  optimal age for many people to get their first credit card …Read More

Financial Goal Setting for Military Families

It’s hard to make a plan for your finances when you don’t know where you’re going. That is why it’s important to set financial goals. It’s even more important when you’re in the military because with military life comes lots of transition. When you’re in the constant state of transition, it makes it difficult to plan for anything let alone your money. Taking the time to set your financial goals …Read More

Summer Job Ideas for Extra Income for Your Teens

By Laura Levine, President and CEO of Jump$tart As an organization that promotes “financial smarts for students,” the Jump$tart Coalition has long believed that learning about, and gaining experience with, money management shouldn’t begin when you already have money to manage.  It really begins with how you earn and acquire that money—and it’s never too soon to start. Summer is a great time for teens to start earning money, when …Read More

Understanding the Importance of a Credit Report

The Consumer Financial Protection Bureau (CFPB) releases a yearly summary of complaints related to the financial service industry, which includes credit reporting agencies. Based on a tally of all complaints submitted to the CFPB website in 2016, the greatest portion were about credit reporting issues. By the numbers, that comes to more than 43,000, or about 23% of the total 186,000 complaints. While the CFPB doesn’t collect data about how …Read More

5 Tips for Improving Your Financial Literacy

By Jessica Kane Americans are struggling with financial literacy. The FINRA Investor Education Foundation, which completes national studies on financial capability, reports that current financial education is not enough to make us money smart. According to their reports, Millennials and young adults were the groups with the most to learn about financial matters. Lack of financial literacy can spell trouble, often resulting in bad money decisions, lack of savings, and …Read More

An Introduction to 3% Down Conventional Home Mortgages

 By Henry Ochoa For the past few months, private banks have been introducing 3% down conventional mortgage packages. These 3% down mortgages are a way to get first-time homebuyers into a home with a low down payment, as opposed to having to pay the typical 5-20% conventional down payment. Low down payment mortgages are an attractive option for people who live in cities where rent is high and it’s tougher …Read More

The Last Word on Financial Literacy Month: National Survey Reveals Small Gains in Savings but More Americans Carrying Credit Card Balances

By Bruce McClary The National Foundation for Credit Counseling (NFCC) and BECU, the nation’s fourth largest not-for-profit credit union, have released the results of the 2016 Financial Literacy Survey. Conducted online in March and April 2016 on their behalf by Harris Poll, the survey includes responses from more than 1,600 U.S. adults ages 18 and over. In its tenth year, the report provides a fresh look at the American consumer’s …Read More

5 Things Every New American Should Know About Personal Finance

As the nation celebrates Independence Day, many Americans think about what it was like for the early settlers arriving on our shores for the first time. Those early pioneers faced much uncertainty when it came to basic survival and the ability to provide a secure future for themselves and their families. Today’s immigrants may not face such extreme conditions, but they do have some significant hurdles to clear when it …Read More